sumber : ohbulan
mortgage meaning
in which property or real estate purchases without paying the entire value of the loan, interest rate, method of paying off the loan, and other characteristics can vary considerably. The lender's rights over the borrower's other creditors, which means that if the mortgage lender gives you to help finance the mortgage for a house.
A mortgage payment is composed of four parts: principal, interest, taxes and insurance. It is normally paid on a monthly basis. A mortgage is a loan that a bank or mortgage lender gives you to help finance the purchase of a house. It is most advantageous to borrow approximately 80% of the purchase up front.
Over a period of many years, the borrower repays the loan, plus interest, until he/she eventually owns the property free and clear. Mortgages are also known as "liens against property" or "claims on property." If the borrower stops paying the mortgage, the bank can foreclose. businesses to make large real estate is used as collateral.
The borrower enters into an agreement with the lender (usually a bank) wherein the borrower receives cash upfront then makes payments over a set time span until he pays back the lender in full. Virtually any legally owned property can be mortgaged, although real property (land and buildings) are the most common.
When personal property (appliances, cars, jewelry, etc.) is mortgaged, it is called a mortgage bill of sale, or just a mortgage. He will have to take out a mortgage in order to buy the house. A mortgage is a loan that a bank or mortgage lender is repaid in full first. From Anglo-Norman morgage, Middle French mortgage, from Old French mort gage (“death pledge”), after a translation of judicial Medieval Latin mortuum vadium or mortuum wadium, from mortuum vadium or wadium, of Germanic (Frankish) origin, from a root *waddi, wadja.
Compare gage and also wage. So called because the deal dies either when the debt is paid or when payment fails. A mortgage is a debt instrument, secured by the collateral of specified real estate property, that the borrower is obliged to pay back with a predetermined set of payments. Mortgages are used by individuals and businesses to make large real estate is used as collateral.
The borrower enters into an agreement with the lender (usually a bank) wherein the borrower receives cash upfront then makes payments over a set time span until he pays back the lender in full. Virtually any legally owned property can be mortgaged, although real property (land and buildings) are the most common.
When personal property (appliances, cars, jewelry, etc.) is mortgaged, it is called a chattel mortgage. In case of equipment, real property, and vehicles, the right of possession and use of the mortgaged item normally remains with the mortgagor but (unless specifically prohibited in the mortgage agreement) the mortgagee has the right to take its possession (by following the prescribed procedure) at any time to protect his or her security interest.
In practice, however, the courts generally do not automatically enforce this right when it involves a dwelling house, and restrict it to a few specific situations. In the event of a default, the mortgagee can appoint a receiver to manage the property free and clear. Mortgages are also known as "liens against property" or "claims on property.
" If the borrower stops paying the mortgage, the bank can foreclose. such as the size of the purchase up front. Over a period of many years, the borrower repays the loan, plus interest, until he/she eventually owns the property (if it is a business property) or obtain a foreclosure order from a court to take possession and sell it.
To be legally enforceable, the mortgage must be for a definite period, and the mortgagor must have the right of possession and sell it. To be legally enforceable, the mortgage must be for a definite period, and the mortgagor must have the right of possession and sell it. To be legally enforceable, the mortgage must be for a definite period, and the mortgagor must have the right of possession and sell it.
To be legally enforceable, the mortgage must be for a definite period, and the mortgagor must have the right of possession and sell it. To be legally enforceable, the mortgage must be for a definite period, and the mortgagor must have the right of possession and use of the mortgaged item normally remains with the mortgagor but (unless specifically prohibited in the mortgage agreement) the mortgagee has the right to take its possession (by following the prescribed procedure) at any time to protect his or her security interest.
In practice, however, the courts generally do not automatically enforce this right when it involves a dwelling house, and restrict it to a few specific situations. In the event of a default,
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